William Blair analyst Myles Minter has reiterated their bullish stance on ANRO stock, giving a Buy rating on May 1.
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Myles Minter has given his Buy rating due to a combination of factors that highlight Alto Neuroscience, Inc.’s promising future prospects. The company is on track with its Phase IIb and Phase II proof-of-concept studies for several key drugs, including ALTO-203, ALTO-101, ALTO-300, and ALTO-100. These studies are expected to yield significant data in the coming years, with the nearest-term catalyst being the top-line data readout for ALTO-203 in the second quarter of 2025. This focus on advancing their pipeline demonstrates Alto’s commitment to developing innovative treatments, particularly in areas like major depressive disorder and cognitive impairment associated with schizophrenia.
Minter also notes the company’s strong financial position, with Alto ending the quarter with approximately $161.3 million in cash. This financial stability is expected to support the company through 2028, allowing it to pursue its clinical objectives without immediate financial constraints. The combination of a robust pipeline and solid financial health underpins Minter’s positive outlook and Buy rating for Alto Neuroscience, Inc.’s stock.
In another report released on May 1, JonesTrading also reiterated a Buy rating on the stock with a $18.00 price target.